Electronic billing is more than a trend, and it may be coming to an insurance line near you, according to a feature in Mitchell International's latest Industry Trends report.
“Legislative requirements and advances in technology have reached a point where all parties involved seem to want the cost, efficiency and improved accuracy outcomes associated with the electronic delivery and exchange of healthcare information—including eBills,” states the article, written by Jason Carter, Tina Greene and Zack Zackrison.
Aside from federal healthcare regulatory mandates, the Mitchell report notes that states have also either considered or taken action on mandating more efficient data exchange in response to rising healthcare costs, particularly in workers' compensation.
“As more states contemplate these regulations,” the report says, “providers and [property and casualty] payers are facing a transition to eBilling for medical bills.”
The Mitchell article says over 20 states are actively discussing standards and requirements for eBilling in workers' comp, auto and/or general healthcare. Eight states have adopted specific legislation.
Additionally, as providers conform to best practices in the healthcare space, they will likely extend workflow expectations to other lines such as workers' comp and auto. Mitchell notes the concept of “meaningful use” is driving technology adoption within the provider community that could accelerate the use of eBilling. Quoting the Office of the National Coordinator for Health Information Technology, part of HHS, Mitchell explains, “'Meaningful use' is the set of standards defined by the Centers for Medicare & Medicaid Services Incentive Programs that governs the use of electronic health records and allows eligible providers and hospitals to earn incentive payments by meeting specific criteria.”
For P&C insurers, apart from compliance, eBilling should facilitate better compliance, outcomes and efficiency, Mitchell notes. “Improved data integrity improves outcomes and efficiency throughout the bill-review and payment process,” the article states.
Mitchell adds, “Faced with an ever-changing horizon of increased operational costs and new regulations, P&C carriers should explore all avenues to improve operations and reduce overall costs. eBilling and ePayment solutions are two components that are easily integrated with expert medical bill review solutions and provide opportunities for P&C payers to meet their goals of improved operational efficiency and reduced costs.”
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